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Looking Ethereum There is a risk of a near fall to the $1,475 level after fellow founder, Vitalik Buterin, made a large sale of nearly 9,000 ETH this week.
This record high performance coincides with a major technical fall, as the currency struggles to support above $1,850 between… Great deal It is a very risk-averse nature of the market.
- Vitalik Buterin sold about 9,000 ETH, leaving a surplus of 7,350 ETH in the modified wallet.
- Ethereum has officially entered the phase of the “bear” trend, technically targeting $1,475 in early March.
- The sale coincided with a broader market reversal, threatening the $1,500 level of support for sentiment.
Why do start-up sales raise alarm bells?
YMarket sentiment was based on sales volume and historical data. Founders’ sales are often a signal for retail traders, and previous sales of buterin have been led by falling prices. It reaches about 23%.
With 7,350 ETH left in the wallet, traders are afraid that continued selling could force the price down for the rest of the week.
These domestic sales challenges are accompanied by significant headwinds; Where it changed Market sentiment People have already been affected by concerns about the prices, which has led to a recent risk-off across the major altcoins.
Although large corporations such as Consensys have a lot of money in their treasury, the financial shocks caused by startup sales make it a long-term investment.
Technical damage comes in at just under $1,475
The price action on the chart confirms the bearish trend, as Ethereum has entered the “broken part” of the current bearish flag pattern.
Early Monday (UTC time), the price of ETH fell by about 5.60% in 24 hours to be close to the level of $1,850, breaking the bottom line of the pennant. This move was accompanied by an increase in sales volume, showing a high level of interest among retailers.
According to the principles of technical analysis, the breakout of the bear flag is usually complete when the price has fallen by an amount equal to the length of the previous decline.
Applying this to the current chart, the downside target is seen at $1,475, which is exactly in line with the emotional support area at $1,500.
Although Buterin continues to call for changes to the policy, and it has recently helped improve censorship resistance, the main points that have been in place for a long time have been overshadowed by the chart’s weaknesses.
Can Ethereum have a fundamental division?
He depends on it The way forward This will largely depend on whether buyers will be able to protect the small area of ​​$1,800.
If the decline continues, a test of the $1,475 level seems inevitable in early March. Conversely, the reversal of this prediction requires a quick recovery of the flag line and a close above the $2,000 resistance level.
Despite the current gloom, some analysts, including the Intellectia.ai team, see a return to $3,000 in 2026 as possible if the correction ends.
Discover the digital currency that could explode soon
A note Ethereum faces a drop to $1,500 as Vitalik Buterin sells 9,000 ETH appeared for the first time Cryptonews Arabic.
